Hey,
i’m struggling greatly getting used to recording landlord payments (only one property).
The bank account is linked to Quickfile. The part i’m struggling with is this month for example I received £200, the total rent is almost £700 but there’s the management fee and 3 repairs this month to record (all on the statement from the estate agent).
Should I be doing a total invoice for £700 to the customer (tenant) as well as manually creating 3 supplier invoices? I am struggling to know the best way around this. I would be nice to click on suppliers and see all the outgoings for example.
Hello @Yoshi1
You would set the letting agent up as a merchant account in the banking screen then record the statement items on there (sales invoice for rent purchase invoice for fees then transfer what you actually receive as a bank transfer).
Bookkeeping for Landlords - Recording Letting Agent Statements and Fees (Standard Method)
Bookkeeping for Landlords - Recording Letting Agent Statement and Fees (Alternative Method)
Thank you.
I’ve followed the guide. Created an invoice to the estate agent and put everything on it (matching up with the statement). Repairs etc all categorised. The only problem I had is in step 5 of the first method is saying “Click to link the client” but can’t find that option anywhere? Linking the client/tenant to the estate agent.
Hello @Yoshi1
When creating the client record you select both the relevant property and tenant records
If you have missed this step, delete the tenant record and recreate it
Thank you. Just to confirm the client name would be the estate agent then?
